Ginnie Mae emerged victorious in a lawsuit brought by Texas Capital Bank over an extinguished lien on collateral for Reverse Mortgage Funding’s home equity conversion mortgages. TCB plans to appeal the ruling.
Joe Gormley is rumored to be leading Ginnie Mae ahead of his potential official nomination for Ginnie president; new leadership at multifamily securitization vendor putting emphasis on decentralized finance.
HECM loan issuers are uncertain of the timeline for Ginnie to implement HMBS 2.0 amid agency-wide staffing cuts, but are confident it retained some degree of primacy on the agency’s to-do list.